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Insurance companies around the globe are refocusing on their core operations. Some lost investment income during the crisis; others face changing customer preferences; most must tackle a newly stringent regulatory environment.
The report starts by using an Efficiency Model to look at the current state of the non-life insurance markets in seven countries (France, Germany, India, Italy, the Netherlands, UK and US), to identify emerging efficiency trends in each market and potential lessons learned across markets.
The report then looks at business agility—the ability to identify, anticipate and respond to specific changes in operating conditions that directly impact an insurer’s ability to achieve sustained performance.
Finally, the report delves into the potential for improvement in claims management, which is so often the defining moment in the customer relationship for non-life insurers. Specifically, this WIR looks at the potential for insurers to improve customer retention and acquisition, process efficiency and effectiveness, and risk/indemnity management by transforming claims processing.
The report’s findings draw on more than 50 interviews with senior executives from leading global insurers, covering 14 countries: Belgium, Canada, Denmark, France, Germany, India, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland, the UK, and the US.